spot_img
spot_img
Bruckner Textile Machinery
Ready To Show textile and Fashion Expo
spot_img

Cambodian economy achieves robust growth in 2018: WB

The Cambodian economy grew 7.5 per cent in 2018, according to the World Bank’s (WB) recently-released Cambodia Economic Update, which said this better-than-expected growth was driven largely by the rapid expansion of exports and ongoing construction boom. The report called for filling skills gaps and investing in human capital to underpin long-term growth.

 

Exports of garments, footwear and travel goods, which account for more than two-thirds of total merchandise exports, recorded a five-year high, rising by 17.6 per cent in 2018, up from 8.3 per cent in 2017.

 

The construction, real estate and tourism sectors accounted for about 60 per cent of total approved investment in 2018. To support the construction boom, manufacturing of building materials, furniture metals, and plastic products also increased rapidly, said the report.

 

The European Union (EU) market, including the United Kingdom, currently accounts for more than one-third of Cambodia’s exports, particularly garments, footwear and bicycles. The potential end of the country’s duty-free access to the European market for exports—or the ‘Everything But Arms’ arrangement—will likely result in slower exports, it cautioned.

 

The Cambodia Economic Update is a biannual report that provides up-to-date information on short- and medium-term macroeconomic developments in Cambodia.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img
spot_img

Related News

YKK Unveils Innovative Zipper to Boost Garment Recycling

NATULON Plus® with Recycled PET Open Parts to be...

EURATEX and AMITH Sign Memorandum of Understanding to Strengthen Euro-Mediterranean Partnership in the Textiles industry

Today, EURATEX (the European Apparel and Textile Confederation) and...

The Belgian Textile Industry in 2023: Stability Amid Challenges

Turnover Holds Steady Despite Declines in Volume In 2023, the...

Turkish Furniture, Paper, and Forestry Products Industry Expands Its Export Reach to Africa

In a strategic push to broaden export markets, the...

Exploring the Future of Textile Machinery: Insights from Alex Zucchi at ITMA Asia + CITME 2024

Today, we had the privilege of interviewing Mr. Alex...

Rieter Investor Update 2024

• Order intake of CHF 226.4 million in the...

Reju Opens Regeneration Hub Zero, Its First Textile-to-Textile Hub, in Frankfurt, Germany

Rejuâ„¢, the progressive textile to textile regeneration company has...
×